PHIL 2050-006 4/21/2011 MicroFinance Microfinancing is a system that provides small loans to some of the poorest communities in underdeveloped countries all over the world. The ultimate goal of microfinancing is to help the poor pull themselves out of poverty. In America, people typically use loan money to increase their assets. These assets could consist of a starting a business or making an investment with the expectation of gaining a return; they do not typically use the money to
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“Mifos is a web-based management information system (MIS) for microfinance institutions (MFIs). Through its open source technology platform, Mifos streamlines the operations of microfinance institutions, providing real-time information and the capacity to scale. Mifos helps MFIs operate more efficiently and to drive a broader and deeper outreach to the poor. As the core backbone of an MFI’s operations, Mifos provides portfolio and transaction management, on-the-fly financial product creation, in-depth
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Final Draft of Argumentative Essay Poverty is one of the most significant and serious issues in the world. Today, millions of people are dealing with the cruel life conditions and trying to reach proper health care, nutrition, and shelter to survive. While the awareness of poverty is increasing, the majority of societies still display less attention to the causes and outcomes of poverty. It has been argued that people are poor because of their own personal shortcomings. However, rather than blaming
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a factor among others that reinforces the social, demographic and economic structures that eventually cause poverty. Consequently, "micro-credit" was developed to address this failure and decades has seen a significant growth in this sector. Microfinance over the years has received several donor endorsement to be the most viable anti-poverty initiative. This is because it targets and reaches the impoverished, especially women, and also small entrepreneurs and producers who more often than not have
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m ) Banglalink(45m), Grameenphone(40m), Robi(31m), Airtel(17m) etc Need for Mobile Money • Agro based economy , need to Improve access to financial services • Significant domestic and international remittances • A service that can be linked to microfinance CONFIDENTIAL 2 Overview Description Partners A Joint Venture of BRAC Bank and Money in Motion of the USA was launched in July, 2011, dedicated to serve the unbanked. BRAC (Bank) Money In Motion(Technology) Seg1 – 60 millions do not have
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and scaling it up. Taking the example of possibly the world’s best known social entrepreneur, Mohammed Yunus, whose hunger to help transform the lives of the bottom rung of the society led him to innovate a completely new banking industry, ‘microfinance’, Grameen Bank. The bank gave small loans to the poorest, without a collateral, purely believing in their credit worthiness. The calculated risk that he courageously took gave him 98% payback returns. His work spread by leaps and bounds worldwide
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There are several business models how Microfinance institution (MFI) operates. Generally speaking, MFI provides micro loans or insurance to the poor to spur their self-reliant entrepreneurs. On one hand, micro loans give the low-income people an opportunity to discover full potential for developing their own business and to bring home the bacon. On the other hand, micro insurance helps the poor manage variety risks, such as health risk and property risks, and sustain the business development. How
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study 5 1.2 Necessity of Microfinance to people 6 1.3 Statement of the Problem 7 1.4 Rationale of the Study 7 1.5 Objectives 8 1.6 Methodology 8 1.7 Limitation of the study 9 chapter two: Literature Review 10 2.1 Micro-Finance 10 2.2 Microfinance and microcredit 10 2.3 The History of Microfinance 11 2.4 Providers and models of microfinance interventions 11 2.5 Microfinance and its impact in development 14 2.6 The impact of microfinance on poverty 16 2.7 Current
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five percent. Sales, income and competitiveness were used as the independent variable while growth of SMEs as dependant variable. Descriptive statistics was used to analyze data. Results indicated that microfinance has positive effects on growth of SMEs. Majority of the owners indicated that microfinance has enabled them to expand businesses, build their business assets. Also ability of the business to complete was enhanced. Abstract: Majority of small and micro enterprises in Kenya are mostly out
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Amanda Roy Talks about mostly the beneficial effects that microfinance can establish but also takes in the fact that there is much corruption that can be provoked through micro finance. This is a system used to establish a marketplace involving the worlds poorest billions people as a way to hope to jumpstart economic growth while also eliminating loan sharks and “microsharks” as Anand describes in her book. “Microfinance is essential to this new entrepunerial self made Africa” Bono uses Vanity
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